Yotta
Yotta, a fintech company based in New York, offers innovative savings and financial services through its highly rated mobile apps, providing users with opportunities to win prizes while saving money.
Company Overview
Yotta, formerly known as Yotta Saving and Yotta Savings, is a fintech company based in New York, NY. The company operates in the consumer finance sub-industry and was part of Y-Combinator's Summer 2020 batch. Yotta offers a variety of financial products and services aimed at helping users save money while participating in prize-linked opportunities.
Products and Services
Yotta provides multiple financial products and services, including Prize-Linked Savings accounts which give users weekly chances to win prizes up to $10 million. Additional offerings include a high-yield savings option called the I-Bonds Bucket with a 6.89% APY, Paycheck Perks, personalized savings goals with Buckets, and Crypto Buckets with an average 2% APY plus more tickets for weekly drawings. Yotta also features Yotta Pay for peer-to-peer payments, a debit card with multiple advantages, and a credit card.
User Ratings and Reviews
Yotta's mobile app is highly rated, with a 4.8/5.0 rating on the App Store based on 9.5k reviews and a 4.4/5.0 rating on the Google Play Store based on 4.6k reviews. The company is also rated Excellent on Trustpilot, with a 4.8/5.0 score based on 800+ reviews. These ratings reflect positive user experiences and satisfaction with the app's functionality and customer support.
Security and Insurance
Yotta prioritizes the security of user accounts, employing bank-grade encryption and authentication methods. User funds are held in accounts eligible for pass-through FDIC insurance up to $250,000 through Evolve Bank & Trust, Thread Bank; Members FDIC, and Synapse Brokerage LLC Program Banks. The company provides world-class support with a dedicated email for assistance, ensuring that customer queries and issues are resolved efficiently.
Recognition and Media Coverage
Yotta has gained significant media attention and has been featured in renowned publications like Forbes, TechCrunch, The Wall Street Journal, The New York Times, and Bloomberg. This coverage highlights Yotta’s innovative approach to consumer finance and its impact on the financial technology landscape.